Functional food ingredients market worth $165.8 billion

Markets and markets

Functional Food Ingredients Market by Type (Probiotics, Proteins & Amino Acids, Phytochemicals & Plant Extracts, Prebiotics, Omega-3 Fatty Acids, Carotenoids, Vitamins), Application, Source, Form, Health Benefits and Region – Global Forecast to 2029
The (https://www.marketsandmarkets.com/Market-Reports/functional-food-ingredients-market-9242020.html), valued at USD 119.2 billion in 2024, exhibits a remarkable growth projection, which is expected to escalate to USD 165.8 billion in 2029, indicating a robust compound annual growth rate (CAGR) of 6.8% during the forecast period . Escalating consumer awareness regarding health and wellness has significantly increased the demand for the functional food ingredients market. The prevalence of lifestyle diseases such as obesity, diabetes and cardiovascular disease has prompted people to prioritize healthier food choices. As people become more aware of the connection between diet and health outcomes, there is a growing trend toward functional foods that provide specific health benefits.

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Furthermore, the widespread availability of information through various media channels, including the internet and social media platforms, has enabled consumers to make informed decisions about their dietary habits. Scientific research highlighting the role of certain nutrients and bioactive compounds in preventing disease and promoting overall well-being has further fueled this trend.

Furthermore, changing demographics, such as an aging population and the rise of the middle class in emerging economies, have contributed to the expansion of the functional food market. For example, an article by Maeil Business News Korea’s Pulse published in March 2024 states that the South Korean food industry has witnessed intense competition in the functional health food market due to the increasing aging of the population. Dongwon (South Korea) F&B’s introduction of ‘BEAUTICK Bacillus SOD’ underlines this trend, as companies look to tap into the growing functional health food market targeting middle-aged and elderly consumers. The company also reported a 10% increase in sales in this category last year. According to the Korea Health Functional Food Association, the Korean functional health food market has more than doubled to US$4.7 billion by 2022 since 2019, and is expected to grow further due to demographic shifts. Other major players, including Daesang Wellife (South Korea) and CJ Wellcare (South Korea), are also tapping into this trend by introducing new offerings to address health concerns related to aging, further driving demand for functional food ingredients stimulated.

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The rise of the ‘beauty from within’ trend has significantly fueled the demand for the functional food ingredients market.

The paradigm shift towards holistic health practices has led to the consumption of functional foods going beyond mere sustenance. Consumers are increasingly looking for products that provide comprehensive health benefits that extend to both internal wellness and appearance. According to Kylen Ribeiro, CEO of Lightbody, a US-based nutraceutical company, the Nutri-beauty supplement market has increased 57% since 2019 and reached an estimated value of $53.4 billion by 2022, as reported in an article in Wholefoods Magazine . In particular, the emerging trend of “beauty from within” has catalyzed the growth of the functional food market, with individuals recognizing the close connection between nutrition and physical aesthetics.

Functional food ingredients are rich in bioactive compounds such as proteins, vitamins and omega fatty acids, all of which play a crucial role in improving skin elasticity, shine and hair strength. As consumers prioritize preventative healthcare and seek alternatives to traditional beauty regimens, functional foods offer a compelling solution by nourishing the body from within, resulting in lasting improvements in skin and hair health.

Furthermore, the increasing prevalence of lifestyle-related conditions, coupled with increasing awareness about the importance of nutrition, has fueled the demand for functional foods worldwide. From superfoods like chia seeds and turmeric to fortified drinks and snacks infused with probiotics and omega-3 fatty acids, the market is witnessing a proliferation of innovative products tailored to specific health concerns. Furthermore, advances in nutritional science and technology have facilitated the development of functional ingredients with improved bioavailability and efficacy, expanding the scope of functional foods beyond conventional boundaries. As consumers become more discerning and proactive in managing their health, the functional food ingredients market is poised for further expansion, driven by the convergence of health, wellness and beauty aspirations.

The food segment within the applications is estimated to have a larger share of the functional food ingredients market.

Food is an essential part of everyday life, making it an important way to incorporate functional ingredients into consumers’ diets. The food segment includes a wide range of products, ranging from bakery and confectionery items to dairy and savory snacks. This widespread integration allows for greater market reach unlike other applications. Furthermore, functional food ingredients are increasingly sought after by health-conscious consumers who prioritize wellness without sacrificing taste or convenience. The inclusion of functional ingredients in everyday foods fits seamlessly with the consumer’s lifestyle, increasing demand within the food segment.

Additionally, food products provide a versatile platform for incorporating functional ingredients without significantly altering taste or texture, broadening their appeal to a broader consumer base. This versatility enables the seamless integration of functional ingredients across food categories, including snack foods, dairy, bakery products and cereals. Additionally, regulatory approval processes for functional ingredients in foods are generally less stringent than those for beverages and nutraceuticals, streamlining the product development cycle and facilitating faster market entry.

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It is estimated that North America will dominate the functional food ingredients market during the forecast period.

Consumer awareness and acceptance of nutritional supplements are exceptionally high in the region. For example, according to the Council for Responsible Nutrition’s (CRN) 2023 Consumer Survey on Dietary Supplements, 74 percent of U.S. adults regularly consume dietary supplements, reflecting the general acceptance of such products. This widespread use indicates significant market demand for functional food ingredients, fueling the region’s dominance.

In addition, North America has a robust research and development infrastructure in the food and beverage industry. This facilitates innovation and the introduction of new functional ingredients tailored to consumer needs and preferences. The region’s strong regulatory framework ensures the safety and efficacy of these products, further strengthening consumer confidence and market growth. Additionally, lifestyle trends in North America, such as an increasing focus on health and wellness, are driving demand for functional food ingredients. Consumers are looking for products that provide tangible health benefits beyond basic nutrition, leading to a surge in demand for functional foods and beverages enriched with ingredients such as carotenoids, proteins and amino acids.

Key players in this market include Cargill, Incorporated (US), BASF SE (Germany), ADM (US), International Flavors & Fragrances Inc. (US), Arla Foods amba (Denmark), Kerry Group plc (Ireland), Ajinomoto Co., Inc. (Japan), DSM (Netherlands), Ingredion (US), Tate & Lyle (UK) and TEIJIN LIMITED (Japan).

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